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BlackRock Homes Partners Acquires 57-Unit Multifamily In Bridgeport, CT For $8.1M

Property Image
SOLD
$8,100,000

Connecticut

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MultiFamily
Sold 03/02/2022
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Property Image
SOLD

BlackRock Homes Partners Acquires 57-Unit Multifamily In Bridgeport, CT For $8.1M

45 Monroe Street, Bridgeport, Connecticut 06605, United States

See Similar Deals
MultiFamily
Sold 03/02/2022
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Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 45 Monroe St in Bridgeport, CT has been sold in a recent transaction. The property consists of 57 units and was sold by Westnor Apartments LLC to BlackRock Homes Partners LLC. The deal was facilitated by Brad Balletto, Rich Edwards, Jeff Wright, and Bob Paterno from Northeast Private Client Group. The sale price for the property was $8,100,000, resulting in a per unit price of $142,105.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,100,000
  • Address: 45 Monroe St, Bridgeport, CT
  • Market: Bridgeport, CT

The key individuals involved in the transaction were Brad Balletto, Rich Edwards, Jeff Wright, and Bob Paterno from Northeast Private Client Group, who represented the buyer and seller in the deal.

Players

Robert "Bob" Paterno
24 deals$125.1M volume
BROKER

Jeff Wright
NorthEast Private Client Group
30 deals$138.9M volume
BROKER

Richard (Rich) Edwards
NorthEast Private Client Group
30 deals$150.9M volume
BROKER

BlackRock
BUYER

BlackRock
LENDER

Details

SOLD
IMAGE: Bob Paterno, Jeff Wright, Rich Edwards & Brad Balletto DATE: 03/02/2022 ADDRESS: 45 Monroe St MARKET: Bridgeport, CT ASSET TYPE: Multifamily BUYER: BlackRock Homes Partners LLC SELLER: Westnor Apartments LLC BROKERS: Brad Balletto, Rich Edwards, Jeff Wright & Bob Paterno - Northeast Private Client Group SALE PRICE: $8,100,000 UNITS: 57 ~ PPU: $142,105

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$432,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,777.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,398.13
Annual Debt Service$460,777.59